Dr. Joachim Behrent

1. SUCCESS AND FAILURE AS AN ENTREPRENEUR
Dr. Joachim Behrendt

2. INTRODUCTION
StartNowHow
• Open seminar series for active and prospective entrepreneurs
• 10 sessions on monthly basis until summer 2016
• Covers relevant theoretical and practical aspects of entrepreneurship
• Based on lecture „entrepreneurship“ @Bogazici University
• Based on experiences of entrepreneurs, investors, mentors and consultants
• Each session with guest speaker (entrepreneurs, investors, mentors, etc.)
• Language: English / Turkish
• Thursdays 17.15h – 19.30h
• Next session: NONE
• TODAY: Success and Failure as an Entrepreneur
• AWARD CEREMONY
• Certificate provided for participants joining at least 70% of the sessions
• Early registration for each session required (eventbrite), limited capacity!
• Priority for regular participants
Startnowhow – Seminar 810.06.2016 2

3. INTRODUCTION
StartNowHow - Seminar Topics (preliminary)
1. Thu 1.10.15: The entrepreneurial ecosystem in Turkey
2. Thu 15.10.15. Entrepreneurship as a profession
3. Thu 12.11.15: Opportunity recognition and evaluation
4. Thu 10.12.15: Planning, developing and testing a business model
5. Thu 7.1.16: Market and competitor research
6. Thu 11.2.16: Financial planning for startups
7. Thu 10.3.16: Digital Marketing planning and control
8. Thu 14.4.16: Funding the startup – stage financing for ventures
9. Thu 12.5.16: The investment process – pitching, negotiations and termsheet
10. Thu 9.6.16: Success and failure as an entrepreneur / AWARD CEREMONY
Startnowhow – Seminar 810.06.2016 3

4. SUCCESS&FAILURE
The Dark Side of Entrepreneurship
10.06.2016 4Startnowhow – Seminar 2
Source: Shane, Ihe Illusions of Entrepre-
neurship, New Haven / London 2008
US study UK studies
Source: Stokes / Wilson, Small Business
Management, p. 87

5. SUCCESS&FAILURE
The Dark Side of Entrepreneurship
• Confrontation with risk
• In its deepest sense, entrepreneurs are willing to accept risk for what they believe in
• Entrepreneurs have ability to cope with ambiguity, and a consistent lack of clarity
• Have a drive to put their imprint on whatever they are creating, ego is wrapped up in
the enterprise
• Financial risk
• Career risk
• Family and social risk
• Psychic risk
• Negative effects from the entrepreneurial ego
• Overbearing need for control
• Sense of distrust, paranoia
• Overriding desire for success
• Sometimes „uncoachable“, overestimating themselves and their abilities
• ... But all these characteristics are, to a certain extent, needed to succeed as an
entrepreneur  careful balancing needed
• (taken from Kuratko, Entrepreneurship – Theory, Process, Practice, pp. 42-44)
10.06.2016 5Startnowhow – Seminar 2

6. SUCCESS&FAILURE
The Dark Side of Entrepreneurship
• Stress
• Entrepreneurs are prone to stress
• Continous discrepancies between (self-)expectations and realitiy / personality
• Entrepreneurs are often „type A personalities“ – prone to stress
• Chronic and severe sense of time urgency
• Constant involvement in multiple projects subject to deadlines
• Neglect of all aspects of life except work
• Tendency to take on excessive responsibility, „only I am capable of taking care of it“
• Explosiveness of speech, speaking faster than most people, swearing when upset
• Typical sources of entrepreneurial stress
• Loneliness, inner feelings of isolation
• Immersion in business
• Problems with people
• Need to achieve
• Implications
• Back problems, indigestion, insomnia, headaches
• Type A behaviour related to coronary heart disease, stress is contributor to heart disease
• .....
• (taken from Kuratko, Entrepreneurship – Theory, Process, Practice, pp. 39-42)
10.06.2016 6Startnowhow – Seminar 2

7. BIC ANGEL INVESTMENTS
Dr. Joachim Behrendt
Phone: +90 212 328 1939
Fax: +90 212 328 1933
www.bicangels.com
http:/twitter.com/joachimbehrendt
http://tr.linkedin.com/pub/joachim-behrendt/18/706/a7a
Email: j.behrendt@bicangels.com